Wondering why many customer experience transformation efforts fail? There’s two angles on that. Not having the right team and not having buy-in across key functions are both deadly for customer centric programs.
If there’s one thing I love doing, it’s a turnaround Especially of great things that have gone off track for specific but addressable reasons. I’ve done it with product lines, bankrupt companies and even a non profit association.
Agility is not just about action but about getting results. Many businesses invest in 10 programs and only get 2 to succeed. They may pat themselves on the back for getting 10 off the ground but that success rate is bad both from an ROI perspective and a business performance perspective.
Technology has been the driving force for change across industries for decades but never more than right now. Whether it’s show rooming, mobile commerce, social media support, viral marketing or big data (to only name a few) the game has changed immensely for most businesses.
As entrepreneurs or executives, we’re always looking for ways to take our businesses to the next level. When you’re operating at that level, what you’re really doing is fine tuning the business plan and the business model.
On the surface, maximizing revenues seems like a fairly straight forward task. If there’s an opportunity, take it and charge the customer for everything. Itemize and price everything a customer could want to the maximum you think enough of them will pay.
When the topic switches to getting budget approval, those of us who implement customer centric programs (like surveys, loyalty programs or CX efforts) tend to roll their eyes in a ‘they just don’t get it’ moment.
Businesses are always looking for ways to drive efficiency and generate more impact from every investment. What stands in their way is a siloed view of their programs — which prevents them from recognizing the cross over impact that possible across functions.
Just because targeting is a best practice in customer facing programs doesn’t mean that it always makes sense. Targeting drives up costs and complexity and sometimes the trade-off doesn’t have a payoff.
Giant Eagle is cutting back on its rewards programs and aligning them more closely to those of competitors. For whatever reason, their apparently popular Foodperks grocery rewards program no longer had the support of management — and they decided to cut it, along with free antibiotic and diabetes drug programs.
This article tackles a problem which many companies with loyalty programs have: a lack of clarity as to the impact of those programs on their overall business. Whether driven by an impending decision to renew or expand the program, or competitive pressures requiring greater investment in those programs, those decisions often expose the weakness in the initial decision to pursue a loyalty program.